(Bloomberg) -- The cost of shipping crude from the
Middle East to Asia, the world's busiest oil-tanker route, may
stay near a three-month low as an oversupply of ships competing
for cargoes negates a probable increase in demand.
Saudi Arabia, Kuwait and the United Arab Emirates all told
oil companies this week when they must have tankers in place to
collect crude from the region's ports next month, said Mathieu
Philippe, a shipbroker for Paris-based Barry Rogliano Salles. Any
resulting jump in demand may not be enough boost rates for the
next several days because of a glut of tankers, he said.
Read more at Bloomberg Energy News
Middle East to Asia, the world's busiest oil-tanker route, may
stay near a three-month low as an oversupply of ships competing
for cargoes negates a probable increase in demand.
Saudi Arabia, Kuwait and the United Arab Emirates all told
oil companies this week when they must have tankers in place to
collect crude from the region's ports next month, said Mathieu
Philippe, a shipbroker for Paris-based Barry Rogliano Salles. Any
resulting jump in demand may not be enough boost rates for the
next several days because of a glut of tankers, he said.
Read more at Bloomberg Energy News
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